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To: AdamSelene235
How do you measure GDP and do you measure money supply?

I don't. I'll accept the M3 numbers you supplied as correct. I'll take the Feds numbers on GDP as correct as well. Why do you ask?

We have never done it with M3 per se, because it largely reflects the extent of the expansion of the banking industry, and when, in effect, banks expand, in and of itself it doesn't tell you terribly much about what the real money is.

So Greenspan says M3 isn't a reliable measure of money. Are you trying to disprove your point that it is?

96 posted on 09/30/2005 2:36:19 PM PDT by Toddsterpatriot (If you agree with Marx, the AFL-CIO and E.P.I. please stop calling yourself a conservative!!)
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To: Toddsterpatriot
So Greenspan says M3 isn't a reliable measure of money. Are you trying to disprove your point that it is?

No I think he's right. Greenspan doesn't know what money is and neither do I.

I, however, am not attempting to manage something I can not define.

99 posted on 09/30/2005 3:01:43 PM PDT by AdamSelene235 (Truth has become so rare and precious she is always attended to by a bodyguard of lies.)
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